Want 4% Interest on your savings and a warm fuzzy feeling!
So what's the catch?
The Plough Lane Bond is no ordinary bond. It is a fundraising scheme organised by The Dons Trust, the not for profit body that owns the AFC Wimbledon football club. The club is in the process of building a new stadium back at Plough Lane. The club previously had their ground there until the owners sold it. Now as a club owned by the fans, we've a real chance of returning to our spiritual Merton home. To complete this task, we need money. Around £11 million in total, and the Plough Lane Bond is one way we're raising it.
We could go to a bank, but the interest rates and repayments would be high. By borrowing money from individuals over a set time frame, the club is able to offer an advantageous interest rate, whilst keeping repayments low. In effect, it is a cheap loan.
OK I'm sold. What do I need to do?
Head over to https://ploughlanebond.com/ for further information. In summary, the important stuff is:
- Bonds are available on 5, 10, or 20 year terms.
- Interest is paid annually at an interest rate of up to 4%. You choose what rate you require. If you're feeling generous, choose 0%.
- A minimum investment of £1000 is required.
- Your capital is repaid at the end of the term, subject the Bond's terms and conditions.